Wedbush reaffirmed their outperform rating on shares of Logitech International (NASDAQ:LOGI – Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $135.00 price target on the technology company’s stock.
Other analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Bank of America cut shares of Logitech International from a “neutral” rating to an “underperform” rating and set a $86.00 price objective on the stock. in a research note on Tuesday, June 30th. Wall Street Zen cut Logitech International from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Morgan Stanley decreased their price target on Logitech International from $89.00 to $88.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Finally, Citigroup boosted their price target on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $109.57.
Logitech International Stock Up 2.8%
Logitech International (NASDAQ:LOGI – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the business posted $0.93 earnings per share. Logitech International’s revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Logitech International will post 5.21 EPS for the current fiscal year.
Logitech International Cuts Dividend
The firm also recently announced an annual dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 22nd will be given a dividend of $1.36 per share. The ex-dividend date is Tuesday, September 22nd. This represents a yield of 126.0%.
Hedge Funds Weigh In On Logitech International
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Logitech International during the third quarter worth $30,000. CIBC Private Wealth Group LLC increased its holdings in Logitech International by 61.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after purchasing an additional 173 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after purchasing an additional 165 shares during the last quarter. Richardson Financial Services Inc. raised its position in Logitech International by 101.5% during the 4th quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after purchasing an additional 334 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Logitech International by 911.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after buying an additional 611 shares during the period. 45.76% of the stock is currently owned by institutional investors and hedge funds.
Logitech International Company Profile
Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.
The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.
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